Story of a Big Player from Gangnam - Chapter 373

Chapter 373: Joint Venture’s Board Meeting (3) – Part 2

While Gun-Ho and Mr. Brandon Burke argued vigorously and loudly, no one in the meeting room tried to chip in. They just looked at Gun-Ho’s and Mr. Brandon Burke’s face. Finally, Mr. Burke threw some documents on the floor out of anger, and Gun-Ho threw an empty bottle of water on the floor in response to show he was mad as well.

Ms. Yeon-Soo Oh couldn’t continue to interpret for Gun-Ho any longer, and she burst into tears. She seemed to be scared and overwhelmed. Other employees, who were working in other offices, came to the meeting room when they heard loud voices.

Ms. Angelina Rein tried to ease the tension in the room by saying with a smile, “I think we need to take a ten-minute break to calm down. We will resume the meeting in ten minutes.”

Everyone agreed to take a break except Gun-Ho and Mr. Brandon Burke. The board meeting would be resumed after ten minutes. All of the Korean attendees walked out of the meeting room for a break while all of the American attendees stayed in the room to discuss further by themselves.

During the ten-minute break, Director Kim and Director Yoon came to Gun-Ho.

“Sir, I’ve never seen you that upset before.”

“I couldn’t even breathe when you told Mr. Burke to take the machines back.”

Gun-Ho smiled and said, “I did that on purpose. It was my tactical move.”

The board meeting was resumed when it was almost six o’clock.

Ms. Angelina Rein spoke first, “A joint venture is like a marriage. Sometimes, its partners are in conflict with different opinions just like a married couple. However, if the partners could step back for a second and see the situation more objectively and more favorable for the other partner, they will find a place that they can agree to. That’s how we all can get along and maintain the agreeable business relationship for a long time in order to achieve our common goal.”

Ms. Rein’s saying eased the tension in the meeting room. People seemed to feel relaxed a bit.

Mr. Burke said after drinking his water, “I shouldn’t have raised my voice. I apologize.”

Since Mr. Burke apologized, Gun-Ho couldn’t just keep on insisting on his point of view.

“Well, I’m sorry for raising my voice as well. However, I still think that the equipment that was sent by Lymondell Dyeon as their investment in-kind was overvalued. Also, I felt offended when Lymondell Dyeon sent their auditors to our company the other day.”

“Did something happen?”

“During the audit, the auditors made a copy of my vehicle’s registration. My car is a Bentley which is worth 300 million won. I know that it is an expensive car. However, that car was purchased and maintained by GH Mobile, not Dyeon Korea. The car has nothing to do with the joint venture. I haven’t spent even a dime of the joint venture’s money except my salary paid by it.”

Mr. Brandon Burke smiled while Mr. Adam Castler looked puzzled. Mr. Adam Castler wasn’t aware of the accident. Mr. Burke said, “I’m sorry about their behavior of making a copy of your car’s registration. I apologize to you on behalf of Lymondell Dyeon as their official representative. Please accept my apology.”

“Since you made an apology about it, I won’t bring up the incident ever again. I do accept your apology.”

The joint venture’s secretary—Ms. Seon-Hye Yee—brought some fruits to the meeting room with additional bottles of water.

Mr. Brandon Burke said again while taking a piece of apple, “I heard what you said, President Goo, but the investment in-kind is already made and completed, and we can’t redo it even though I understand your point because Lymondell Dyeon is not my personal company. However, I can give you two things within my power. As you stated earlier, this joint venture’s annual sales goal of the first year is 30 billion. Lymondell Dyeon highly recognizes this joint venture as it is the most successful business partner of theirs among other joint ventures. I hope we can continue this partnership as you accept two things I could offer to you.”

“I am listening.”

“First, Dyeon Korea’s exclusive right to sell the products is limited to China and Southeast Asia market. I can expand this to include the entire Asia.”

Director Yoon who was sitting next to Gun-Ho said in a small voice, “Well, that’s not much at all.”

However, Gun-Ho thought differently, and he saw an opportunity there.

“The entire Asia market includes India, the Middle East, and Central Asia, doesn’t it?”

Gun-Ho talked about the India market with President Jang-Hwan Song this morning. President Song insisted that Gun-Ho should pay attention to the India market. He told Gun-Ho this morning that, “Look at Chennai in India. Look at the selling rate of Verna there. India is an emerging star. It can be our base to reach Africa, and Central and South America.”

Gun-Ho swallowed his saliva and said, “What is the second one that you are offering?”

“We will lower the price of the raw materials that we are sending to the joint venture. I will have to discuss this in more detail with the officers of Lymondell Dyeon once I get back to the states, but I’m thinking of lowering the price by 3%.”

Gun-Ho took some time to think about it and everyone in the room looked at Gun-Ho’s face waiting for his reaction to Mr. Burke’s offer.

Finally, Gun-Ho said, “Okay! I accept your offer.”

Mr. Brandon Burked quickly stood up from his seat and extended his hand to Gun-Ho for a handshake. Gun-Ho also stood up and held Mr. Burke’s hand. Once they had a handshake, everyone clapped. The interpreter—Mr. Lee—quickly stood up and took a picture of Gun-Ho and Mr. Burke having a handshake.

The first board meeting of the joint venture ended somewhat contently.

Mr. Adam Castler held out the document that he prepared for the earnings report to Gun-Ho and Mr. Burke. He wanted them to sign it. Mr. Brandon Burke signed the document with his pen and then he said, “Good job, Mr. Castler.”

Gun-Ho tapped Mr. Castler’s shoulder and said, “Thank you, Mr. Adam Castler.”

“What’s our schedule tomorrow?”

“Tomorrow morning, you will sign the agreement that we made during the board meeting today. Mr. Interpreter Lee will prepare the agreement in two languages by tomorrow morning. You will then take a tour of the factory here before heading to GH Mobile. You will be meeting with the executive officers of GH Mobile when you visit them. In the afternoon, President Goo invited us for lunch.”

Gun-Ho made a call to President Jang-Hwan Song.

“Lymondell Dyeon’s personnel who came to attend the board meeting here in Dyeon Korea will visit GH Mobile around 11 am tomorrow.”

“I’m well aware of it, sir.”

“President Song, please have Director Jong-Suk Park clean the production site.”

“Understood.”

“And, they will have a meeting with GH Mobile’s executive officers. After the meeting, we will have lunch together. GH Mobile officially invites them for lunch. Please make a reservation in a nice restaurant around the factory in Jiksan Town.”

“Okay.”

Director Kim spoke to all of the attendees of the board meeting, “Thank you for attending the meeting and your patience today. The joint venture invites you all to dinner. Please come to Onyang Hot Spring Hotel by 7 pm.”